Today’s analysis – AIONUSDT- price action breaking key resistance with candle closes, an influx is highly probable as this is as pivot .
Points to consider,
– Bullish Price Action
– Local S/R Resistance
– 200 MA Support
– Oscillators Divergence
– Volume Below Average
AIONUSDT’s immediate price action is bullish by breaking above the dynamic resistance in confluence with the 200 MA. This shows strength which allows us to have a bullish bias on the market.
The Local S/R is recent resistance, candle closes within this area is indicative of immediate strength. Here a long trade will be negated with a bearish close below the 200 MA.
The RSI has a valid bullish divergence , this is a sign of strength in the immediate term thus a reversal probable.
Current volume profile is below average, an influx will be highly probable with the next price expansion.
Overall, in my opinion, AIONUSDT is a valid long with defined risk; price action is to be used upon discretion/ management of trade.
Hope this analysis helps
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“a greater probability of one thing happening over another. In a sense, technical analysis allows you”
― Mark Douglas